INSURANCE NEWS
U.S. Hurricane Survivors Want Faster Money, Less Red Tape
Survivors of storms that pounded several U.S. states say the nation’s disaster aid system is broken and want reforms to get money into victims’ hands faster, with less red tape. On the 10th anniversary of Superstorm Sandy’s landfall at the …
‘Quiet Quitting’ Surges in U.S. Financial Services as It Gains Steam Across Sectors
The viral quiet quitting trend is taking hold in finance — once the industry with the most engaged workers, according to a new study. The share of workers who said they’re “very likely” or “extremely likely” to try their hardest …
Cyber Officials From 37 Countries, 13 Firms to Meet in Washington on Ransomware
The White House will host officials from 37 countries and 13 global companies in Washington this week to address the growing threat of ransomware and other cyber crime, including the illicit use of cryptocurrencies, a senior U.S. official said. The …
Musk Denies He Is Firing Twitter Employees in Attempt to Avoid Payouts
Twitter’s new owner Elon Musk has denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on the day. In a response to a Twitter user asking …
Financial Services Executives Toast City of London’s Prospects Under PM Sunak
When senior figures from the City of London gathered for a dinner in July at the historic Mansion House, they broke into applause for someone who was not there. John Glen had just resigned as the government’s City minister, citing …
Insured Losses for Australia’s October 2021 Storms Estimated at A$972M: PERILS
Insured losses for the severe storms, which hit Southern Australia on Oct. 28-30, 2021, are estimated at A$972 million (US$623.1 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This fourth and final estimate dropped …
Wilson Steps Down as Brit CEO for Ongoing Health Issues, Succeeded by Thompson
Brit Ltd., the London-based specialty insurer and reinsurer, announced that Matthew Wilson will be stepping down from his role as group CEO and will be succeeded by Martin Thompson, who will become the new group CEO and executive chairman of …
Philippines’ Death Toll From Storm Nalgae Rises to 98
The Philippines said 98 people died from flooding and landslides triggered by storm Nalgae, which hit the country over the weekend. The death toll has risen from 48 reported Sunday, the National Disaster Risk Reduction and Management Council said on …
South Korea Begins Investigation Into Deadly Halloween Crush, as Death Toll Rises
South Korean investigators combed footage on Monday from more than 50 state and private closed-circuit TV cameras as well as from social media looking for answers to how a surge in Halloween party-goers trapped in narrow alleys killed so many. …
Europe’s Biggest Copper Smelter Hit as Part of Wider Cyberattack on Metals Industry
Aurubis, Europe’s biggest copper smelter, said on Friday it had been targeted as part of a wider cyberattack on the metals and mining industry which had forced it to shut down its IT systems and disconnect them from the internet. …
Australia’s Hacking Frenzy Spurred by Understaffed Cybersecurity Workforce
A swathe of hacks on some of Australia’s biggest companies has made the country a target for copycat attacks just as a skills shortage leaves an understaffed, overworked cybersecurity workforce ill-equipped to stop it, technology experts said. As Monday saw …
Q3 Net Income Down 30% at The Hartford; $214M in Ian Losses
Compared to the same window last year, net income at The Hartford was down during the third quarter of 2022 – but core earnings were up during what the company’s CEO described as a strong stretch. Third quarter 2022 net …